HDFC Life Insurance rises on getting nod to merge Exide Industries arm with itselfs
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HDFC Life Insurance Co is currently trading at Rs. 549.55, up by 2.90 points or 0.53% from its previous closing of Rs. 546.65 on the BSE.
The scrip opened at Rs. 552.90 and has touched a high and low of Rs. 556.65 and Rs. 543.00 respectively. So far 1985245 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 759.60 on 17-Sep-2021 and a 52 week low of Rs. 497.30 on 08-Mar-2022.
Last one week high and low of the scrip stood at Rs. 606.00 and Rs. 542.85 respectively. The current market cap of the company is Rs. 117768.20 crore.
The promoters holding in the company stood at 51.52%, while Institutions and Non-Institutions held 34.58% and 13.91% respectively.
HDFC Life Insurance Company has received approval from The National Company Law Tribunal (NCLT) for merger of Exide Industries’ subsidiary company -- Exide Life Insurance with itself. Earlier this year, HDFC Life had announced acquisition of 100 per cent stake in Exide Life from its parent Exide Industries after issuing over 8.7 crore shares at an issue price of Rs 685 and a cash payout of Rs 726 crore, aggregating to Rs 6,687 crore. Exide Industries now holds 4.1 per cent stake in HDFC Life.
HDFC Life Insurance Company is one of the leading life insurance companies in India offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings & Investment and Health, along with Children's and Women's Plan.
